Investment Portfolio

6 Months Ended

Jun. 30, 2018

Investments, Debt and Equity Securities [Abstract]

As of June 30, 2018, the Company held investments (excluding money market funds, which are included with cash and cash equivalents) worth $205.2 million. The following table summarizes the carrying value of these investments as of June 30, 2018 and December 31, 2017:



	As of
	June 30, 2018		December 31, 2017
Fair value investments:
Securities held in Consolidated Funds^(a)	$	148,949,537	$	65,890,500
Company sponsored investments	36,775,789		36,541,818
Company sponsored equity method investments	19,475,312		36,043,704
Total Investment portfolio	$	205,200,638	$	138,476,022

(a) Of the securities held in the Consolidated Funds as of June 30, 2018, $86.3 million were held directly by the Company and $62.7 million were held by noncontrolling shareholders. Of the securities held in the Consolidated Funds as of December 31, 2017, $42.6 million were held directly by the Company and $23.3 million were held by noncontrolling shareholders.

New consolidations of Company sponsored investments of $16.4 million in the six months ended June 30, 2018 included the consolidation of the Diamond Hill Global Fund and the Diamond Hill High Yield Fund. As of December 31, 2017, these investments were classified as equity method investments.

As of June 30, 2018, our equity method investees consisted of the Diamond Hill Research Opportunities Fund and DHIEF and our ownership percentages in these investments were 29% and 30%, respectively. The Company's equity method investments consist of cash, marketable equity securities and fixed income securities. The following table includes the condensed summary financial information from the Company's equity method investments as of and for the period ended June 30, 2018:



			As of
			June 30, 2018
Total assets			$	97,401,862
Total liabilities			31,334,781
Net assets			66,067,081
DHCM's portion of net assets			19,475,312

	For the Three Months Ended		For the Six Months Ended
	June 30, 2018		June 30, 2018
Investment income	$	292,943	$	556,095
Expenses	244,943		484,002
Net realized gains (losses)	725,794		(252,686		)
Net change in unrealized appreciation	2,089,091		313,546
Net income	2,862,885		132,953
DHCM's portion of net income	860,657		74,718